Viomi Technology’s Full Year 2023 Financial Results: Revenue and EPS Show Improvement, But Miss Analyst Expectations

Viomi Technology’s Full Year 2023 Earnings Fall Below Expectations

Viomi Technology (NASDAQ: VIOT) released its full year 2023 financial results, showing a decline in revenue and a narrowed net loss compared to the previous fiscal year. Revenue was CN¥2.49 billion, down 23% from FY 2022, while the net loss was CN¥84.7 million, representing a 69% improvement from the previous year. Earnings per share (EPS) also showed improvement, with a loss of CN¥1.23 per share compared to CN¥3.97 in FY 2022.

Despite the improvements in net loss and EPS, both revenue and earnings missed analyst expectations by 12% and 140%, respectively. Looking ahead, the company is forecasting a 21% average annual revenue growth over the next two years, outpacing the 5.1% growth forecast for the Consumer Durables industry in the US. However, Viomi Technology’s shares are down 8.8% from the previous week, reflecting some investor concerns.

It’s important for investors to be aware of potential risks associated with any investment opportunity. Viomi Technology has been flagged with two warning signs that should be taken into consideration when making investment decisions. Despite this information, it’s worth noting that this article is based on historical data and analyst forecasts and should not be used as financial advice. Simply Wall St aims to provide unbiased analysis driven by fundamental data but may not include recent company announcements or qualitative information.

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